November 6, 2015

Nifty Can Give Short Term Bounce of 140-250 Points – EW Analysis for 06 Nov

Nifty opened Gap down today and consolidated around 8000 for some time but then broke below 7995 and fell almost 90 points from previous close to register day’s low of 7944 before closing 84 points down at 7955. Our stoploss for buying was triggered and Nifty entered in next range of 7986-7906, there may be loss of 15-20 point loss if some traded as per strategy suggested yesterday. Let’s see what latest charts are suggesting.